Property sector in limbo as projects’ sales galleries stay closed

Property sector in limbo as projects’ sales galleries stay closed

The Edge Singapore, 29 May 2020, Fri  

By Cecilia Chow

The Fortitude Budget announced on May 26 brought little cheer to those in the real estate sector as there was no mention of when the sales galleries of developers’ projects could reopen and when property viewings could resume. This further dampened sentiment in the sector where developers, consultants and realtors were already disappointed that Phase One of reopening after the “circuit breaker” did not include them.

While hair salons, air-conditioning repair services and auto repair workshops are allowed to resume business from June 2, property projects’ sales galleries have to remain closed “until further notice”, according to URA in a circular on May 20.

For property agents, the circuit breaker seems to have been extended beyond June 1. They are still not permitted to have face-to-face meetings with clients, except where clients’ physical presence is legally required to complete transactions. The latter has to take place in the office of the real estate company. Property viewings are still permitted to be conducted only through digital means.

Read more at: https://www.edgeprop.sg/property-news/property-sector-limbo-projects%E2%80%99-sales-galleries-stay-closed